Market Size of Lithium Carbonate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 11.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lithium Carbonate Market Analysis
The lithium carbonate market is projected to register a CAGR of around 11% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. The COVID-19 pandemic affected one of the prominent end-users of lithium carbonate, i.e., electric vehicles. Due to the disrupted supply chains globally, the pandemic has led to a decline in all industrial activities. Lockdowns across different countries have affected lithium carbonate production, as key manufacturing units and factories were shut.
Over the short term, rising demand for lithium carbonate for the application in electric vehicles is the driving factor stimulating the market demand.
The intoxicating nature of lithium carbonate is supposed to hinder the market growth.
Application in air conditioning and air treatment systems might act as an opportunity for the market studied.
The Asia-Pacific region is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.
